Dover Corporation $DOV Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lowered its position in Dover Corporation (NYSE:DOV) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,225 shares of the industrial products company’s stock after selling 4,000 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Dover were worth $13,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of Dover in the 3rd quarter worth about $25,000. Vermillion & White Wealth Management Group LLC increased its position in Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new position in Dover in the second quarter valued at approximately $31,000. Westside Investment Management Inc. raised its holdings in Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after buying an additional 114 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in Dover by 371.4% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after buying an additional 208 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DOV shares. Royal Bank Of Canada increased their price objective on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. JPMorgan Chase & Co. increased their price target on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Morgan Stanley set a $210.00 price objective on Dover in a research report on Wednesday, February 4th. Finally, BNP Paribas Exane started coverage on Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Price Performance

Shares of DOV stock opened at $210.27 on Thursday. The firm has a fifty day simple moving average of $214.77 and a 200-day simple moving average of $192.21. The company has a market capitalization of $28.36 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s payout ratio is presently 26.20%.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is currently owned by corporate insiders.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.